Compare 5 Best Mortgage Lenders In Texas (2022)

Hey Sunshine,

Are you looking for the best mortgage lenders in Texas in 2022 who can help you buy or refinance a home? Let Mount Shine help you in finding top-rated mortgage lenders in Texas. Learn what makes them unique, the pros and cons, the factors considered while choosing them, the credit score required, the interest rate, and much more.

5 Best Mortgage Lenders In Texas (2022)

If you are looking for a home to buy or refinance in Texas, our Mount Shine experts will help you find one of the best mortgage lenders in Texas.

Here are 5 best mortgage lenders in Texas:

  1. Guaranteed Rate
  2. Navy Federal Credit Union
  3. Veterans United Home Loans
  4. North American Savings Bank
  5. Truist (SunTrust and BB&T) Mortgage
Best Texas Mortgage Lenders
Best Texas Mortgage Lenders

1. Guaranteed Rate: Best With Fast Pre-Approvals And Closings

Headquartered in Chicago, Guaranteed Rate is a reliable online firm with 400 branches across the country. It has received fewer customer complaints than other firms, making it one of the best lenders. They offer excellent customer service, helpful customer tools, and a top-of-the-line digital experience.

Guaranteed Rate
Guaranteed Rate: Best Mortgage Lenders In Texas

Pros

  • There are more than 400 branches locations available around the world
  • All the procedures for a mortgage will be fully online. So you won’t need to visit them physically.
  • It operates in all 50 states, including Washington, D.C.
  • The online pre-approval will get done within 15 minutes.

Cons

  • There will be lender fees available online.
  • Some of the loan types are brokered off by other lenders.

Read – What Is a Personal Loan Origination Fee? [Explained] in 2022

2. Navy Federal Credit Union: Best For Military Families

Navy Federal Credit Union headquarters is located in Vienna, Virginia, which has 50 states and 344 branches worldwide. They offer streamlined online application processes with price transparency. The flexible credit on most mortgage products and with no down payment for military service and their families makes it likable among others.

Navy Federal Credit Union
Navy Federal Credit Union

Pros

  • The military community will provide specialized advice and services.
  • Offers you flexible credit requirements.
  • There will be no down payment mortgages.
  • There will be no charges for private mortgage insurance.
  • You can get an opportunity to lock or re-lock your interest rate.

Cons

  • They will not offer USDA loans and FHA loans.
  • The membership is limited to veterans and certain members.

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3. Veterans United Home Loans: Top Lender Among Military Families

Veterans United Home Loans headquarters is in Missouri, giving their services in 50 states where they are experts in VA home loans. They also offer conventional FHA loans, jumbo, and USDA loans. Also, you don’t need to visit them physically as the application process is entirely digitized.

Veterans United Home Loans
Veterans United Home Loans: Best Mortgage Lenders In Texas

Pros

  • They are available in all 50 states.
  • It offers several loan programs, including FHA, USDA, VA, and conventional loans. 
  • The process of application will be fully online. 
  • The educational content is also available on their official website. 
  • They are highly experienced in VA loans.

Cons

  • For non-VA loans, It isn’t easy to find information. 
  • They do not offer lines of credit or home equity loans. 
  • There will be limited online rate information on their official website.

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4. North American Savings Bank: Best For The Non-Traditional Borrower

North American Saving Bank headquarters are in Kansas City, Missouri, and are available in 50 states. They offer more extensive mortgages than others because the bank offers FHA and VA loans for those who do not fit conforming loan standards. Plus, they provide an online application process with transparent pricing.

NASB Bank Mortgage Lenders
NASB Bank Mortgage Lenders

Pros

  • They are available in 50 states.
  • They will update daily interest rates for purchase and refinance loans. 
  • They offer unique loan products.
  • They offer customized rate quotes without any hard credit checks.

Cons

  • The physical branches are only 12. 
  • They do not offer home equity products, USDA loans, Renovation loans, and Construction loans.
  • The credit score standards are higher on VA loans and FHA loans.

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5. Truist (SunTrust and BB&T) Mortgage: Best For Full-Service Banking

Truist Bank has branches across the U.S. and has merged with Suntrust and BB&T. The average number of complaints, the easy online application process, and the transparency on rates and fees make it one of the best mortgage lenders.

Truist Bank
Truist: Best Mortgage Lenders In Texas

Pros

  • They offer a full lineup of effective mortgage programs.
  • Their mortgages are available in 47 states, including Washington, D.C. 
  • Both BB & T and SunTrust advertise the sample mortgage rates.
  • They are flexible, as you can choose online and offline procedures to fill out the application.

Cons

  • The mortgages are not available in Arizona and Hawaii.

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Texas First-Time Homebuyer Programs For Texas 2022: Overview

If you are a first-time homebuyer in Texas, you might have to qualify for some of its requirements. You need to pass the criteria made by the Texas Department of Housing and Community Affairs. You can keep looking for what kind of home you want and search for your mortgage with the Texas Department of Housing and Community Affairs’ list of approved lenders.

The eligibility is based on the following:

  • Your credit score
  • Your income
  • The purchase price limits

Also, if you have lived in Texas for more than 10 years and meet certain conditions, then there is a chance that your loan might be forgiven. So, keep looking and searching by yourself as well.

Related – Compare The Best Mortgage Lenders For First Time Buyers

What Are Today’s Mortgage Rates in Texas?

The current mortgage rates in Texas are as follows:

  • For 30 year fixed Mortgage rate is 7.200%
  • For 15 year fixed Mortgage rate is 6.350%
  • For 30 year Refinance Mortgage rate is 7.200%

5 Tips To Best Mortgage Lender for Your Situation [How To]

5 helpful tips for the best mortgage lender for your situation are:

  1. Look for what type of mortgage lenders you are looking for.
  2. To gain experience, have a chat with a loan officer.
  3. Always look for an option and compare the mortgage lenders.
  4. Do not forget to do calculations and compare your payment with others.
  5. If you are a first-time homebuyer, you can take assistance from the Texas State Affordable Housing Corporation (TSAHC).

Editor’s Pick – 30-Year Fixed Mortgage Calculator: (PMI + Interest + Taxes)

Making The Decision: Choosing Best Mortgage Lenders In Texas

Buying a home can be a dream for many, but following some guidelines and helpful tips will help you to make your dream come true easily. So, before making any choices, we suggest checking and comparing the mortgage lenders. You can choose any of the best mortgage lenders in Texas and make a decision.

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